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New Home Price Record? Missed It By That Much

Now that 1904 The Strand in Manhattan Beach has closed for an eye-popping sale price of $15,750,000, the question immediately come to mind “Is this a record high home sale price in Manhattan Beach?”

If one were just looking at sales recorded on the realtor’s Multiple Listing Service, the answer would be yes.  In fact, this custom-built 4-bedroom beachfront Mediterranean, designed by Jack Warner of The Warner Group and built by high-end builders Nelson Daniels Construction, far outdistances the next highest sale (as reported on the MLS) at 1420 The Strand, which also sold this year but for a meager $12,500,000.

853 3rd Street

853 3rd Street, Manhattan Hill section

However, if one checks the tax records, one finds two off-market Manhattan Beach sales that are tied for first-place in the sales price sweepstakes at $16 million apiece.

One sale, which jolted the local market a few years ago, involved a stunning KAA-designed Hill section home at 853 3rd Street.  Not only is this magnificent, 6-bedroom, 6242 sqft ocean-view contemporary estate with pool a beautiful example of the Southern California modernist style that KAA Design Group, now Kirkpatrick Architects (after its founder Grant Kirkpatrick), specializes in but it sits on a prime oversized 11,401 sqft lot.  For more info, view the previous blog post on this home here.

The other sale, which closed more recently, was actually a beachfront corner lot sale at 1700 The Strand.  We previously wrote about this sale back in May (see $16 Million for a Corner Strand Lot) and can verify that the sale price did, in fact, hit $16 million for what is, in essence, a 3339 sqft sliver of sand (the math works out to about $4,791/square foot).

So it looks like 1904 The Strand’s sale price, while impressive, actually ends up in 3rd place in our local home price derby.  For now.


Cash Is King At The Beach

Real Estate Edge by Mike Michalski & Sachi Fujita

Buying all cash with no mortgage? Why? Here are some reasons.

New Listing – 750 30th St, Manhattan Beach

Real Estate Edge by Mike Michalski & Sachi Fujita

Mike & Sachi have a new listing at 750 30th Street in the Manhattan Beach Tree section. This 5,070 sqft beach plantation-style home is still under construction (by master builders Zivec & Corbett) with an estimated completion date of March, 2015, so there’s still time to pick your finishes.

Hermosa Valley High?

Real Estate Edge by Mike Michalski & Sachi Fujita

Looks like the developers of a massive Hermosa Valley home on El Oeste Drive (still under construction) are intent on setting a new sale price record for this neighborhood by a country mile. Read more here.

Nondisclosure of Defects in Residential Sales – Seller Beware!

Real Estate Edge by Mike Michalski & Sachi Fujita

Almost every residential real estate sale requires the seller to complete a transfer disclosure statement, also known in the industry as a TDS. This 3-page form compels the seller to tell the buyer everything about the home that could adversely and materially affect its value. But we’ve seen cases – two in Manhattan Beach – where the seller appeared not to disclose a material defect or nuisance to the buyer. Read more here.

What $2 Million Buys in Manhattan Beach – 2007 to Present

Real Estate Edge by Mike Michalski & Sachi Fujita

So what will $2 million buy in Manhattan Beach? Over the last seven years, the answer to that question has changed dramatically. Read more here.

When Will The Fed Raise Rates?

Real Estate Edge by Mike Michalski & Sachi Fujita

“Federal Reserve Chair Janet Yellen whispered ‘Bang’ but did not shoot,” according to Lou Barnes (Inman Real Estate News contributor). What does this mean for interest rates? Read more here.

Fisher Queen Nets A Cool $2 Million Profit

Real Estate Edge by Mike Michalski & Sachi Fujita

Back in 2008, with the world financial markets in turmoil and the local residential real estate market in the tank, two spectacular contemporary homes designed by Aidlin Darling Design out of San Francisco debuted on the market at 1208 and 1212 Fisher Avenue in the American Martyrs area of Manhattan Beach. One of those two recently resold for a cool $2 million profit (assuming escrow closes). Read more here.

Strand Prices Continue To Surprise On The Upside

Real Estate Edge by Mike Michalski & Sachi Fujita

Whoever said “Trees don’t grow to the sky” (an old Wall Street maxim) probably hadn’t contemplated what low interest rates , low inventory and a suddenly hot destination real estate market would have on beachfront properties here in Manhattan Beach. But given all that, some sellers are making an absolute killing on the sale of their Strand lots. Read more here.

Haunted House on Anderson To Get A Makeover

Real Estate Edge by Mike Michalski & Sachi Fujita

It looks like the long-running saga of 606 Anderson Street in the Manhattan Beach Hill section will finally be entering a new chapter with its recent purchase by a prominent local home-flipper.

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